M&A Deal Summary

PFG Acquires Green Rabbit

On October 2, 2023, PFG acquired transportation company Green Rabbit from Guidepost Growth Equity

Acquisition Highlights
  • This is PFG’s 1st transaction in the Transportation sector.
  • This is PFG’s 8th transaction in the United States.
  • This is PFG’s 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2023-10-02
Target Green Rabbit
Sector Transportation
Buyer(s) PFG
Sellers(s) Guidepost Growth Equity
Deal Type Add-on Acquisition

Target

Green Rabbit

Braintree , Massachusetts, United States
Green Rabbit is an e-commerce cold chain logistics provider. Green Rabbit is based in Braintree, Massachusetts.

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Buyer(S) 1

Buyer

PFG

Richmond, Virginia, United States

Category Company
Founded 1885
Sector Distribution
Employees40,000
Revenue 58.3B USD (2024)
DESCRIPTION

PFG is a distributor of food products and snacks. PFG delivers food and food-related products to more than 130,000 independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions across the United States. PFG was founded in 1885 and is based in Richmond, Virginia.


DEAL STATS #
Overall 8 of 9
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 9
State: Massachusetts M&A 2 of 2
Country: United States M&A 8 of 9
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-25 OLM Food Solutions

Sioux Falls, South Dakota, United States

OLM is a provider and distributor of food service solutions to the C-store industry, servicing over 1,500 convenience stores as well as co-manufacturing customers across the U.S. and abroad. The company offering includes a diverse portfolio of branded solutions including Hot Stuff Kitchen, pcpizza, Papa Primo’s, Day’N Night Bites, and private label solutions. OLM was formed in 1983 and is based in Sioux Falls, South Dakota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-14 Cheney Brothers

Riviera Beach, Florida, United States

Cheney Brothers is a family-owned and operated broad line distributor offering over 64,000 stocked items from gourmet to every day. Cheney EXPRESS is open to the public and carries frozen, refrigerated and dry products with carrying out service to your vehicle. Insisting upon top-quality products from nationally recognized manufacturers, Cheney Brothers’ broad inventory consists of more than 50,000 stocked items, from gourmet to every day. Cheney Brothers was formed in 1925 and is based in Riviera Beach, Florida.

Buy $2.1B

Seller(S) 1

DESCRIPTION

North Bridge is an investment firm focused on providing seed, venture, and growth capital to technology enabled companies. Specific areas of interest include communications and infrastructure, software, materials, and digital media. For later stage growth transactions, North Bridge generally looks to acquire majority (or minority) positions to help fund liquidity needs, growth initiatives, or acquisitions. North Bridge was formed in 1994 and has offices in Waltham, Massachusetts and Palo Alto, California.


DEAL STATS #
Overall 19 of 21
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 12 of 13
State: Massachusetts M&A 5 of 5
Country: United States M&A 19 of 20
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-02 Intellum

Atlanta, Georgia, United States

Intellum is an enterprise learning management system helps in tracking learning content consumption and studying how individuals connect these interactions to their job performance, career development, and overall happiness. Intellum is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Mineral

Portland, Oregon, United States

Mineral is a cloud-based platform for HR solutions company that provides expert HR-related advice and training to employers. Mineral was founded in 2005 and is based in Portland, Oregon.

Sell -